the power of creditcards
Discussion
i know a lot of here use cash as well as wouldn't dream of investing in a scam, but really shows how useful they are.
http://www.telegraph.co.uk/personal-banking/credit...
http://www.telegraph.co.uk/personal-banking/credit...
rossub said:
To be honest it feels like he's scammed the credit card company as well. He thought it was a risk, so used the cc as insurance. If he thought it was that risky, why the hell did he invest in the first place!
If I was investing that amount of money, I'd make damn sure it wasn't a scam.
but this is the whole point of cc, use it wisely and it pays off. If I was investing that amount of money, I'd make damn sure it wasn't a scam.
For example use it for part of a car purchase and add another level of protection, the thing is not a lot use it like this.
The Spruce goose said:
For example use it for part of a car purchase and add another level of protection, the thing is not a lot use it like this.
...although you need to be aware that the protection only applies if the WHOLE price of the car is less than £30,000http://www.thisismoney.co.uk/money/cardsloans/arti...
Examples:
1. Buy a car for £29,000 paying the whole price on credit card - full protection applies. If the dealer goes bust after delivery and the car turns out to be defective you have the same rights against the credit card company as you would have had against the dealer.
2. Buy a car for £31,000 and pay initial deposit of £10,000 by credit card, paying the balance by bank transfer. Dealer goes bust after delivery and the car turns out to be defective. There is NO protection. You can't claim against the credit card company at all.
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